The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1887-11-09

i compliment of looms and consequently cost
ing not less than two hundred TO Two nun
tlrcd and fifty thousand dollars, may hope To
compete, in the matter Of the cost or It's pro-
ductions, with the lnrge factories located IN
the Piedmont region OF this subsequently
If that factory is dependent upon steam alone
for lis motive power, as would be the case
with ours.
/ 4. The cost Of operating a small factory as
compared with q large one IS not IN proper
i tion to the number OF Splndles or relative pro-
duets of cach-in other words 1t would cost
far more than one half as much TO operate q
mill of five thousand spindles than II would
one of ten thousands, and for various reasons !:
/ s. First, because the motive power or en-.
gines necessary to run the smaller mill
would cost very nearly as much as In the case
of the larger.
/ G. And again. the wages of the supcrinten-
dent book keeper, clerk, wutchman and the
; numerous other attaches, independent OF
those attending the loomSand Splnules, would
aggregate almost as much in the one case as
In the other
lin my Judgment it would be infinitely
better for us never to have factory than 70
start one that wonld barely pay expenses as !
fear would be the case with one of less than
or ten thousand spindles.
s. We would not only sink the capital In.
i vested In IL but il would forever prevent any
similar enterprise being undertaken in our
midst and would prove great injury to the
town and county Of Abbevllle.
9. And now as to the amount at which the
shares are fixed. / know there nre some as
stated before who think the same should DC
placed aS low as twenty dollarS-Well all
have to say upon this point Is that any one
who is not able to take as much as one share
at forty dollars Is in no condition, pecuniari,
ly, to take stock In cotton faciory-he would
be doing an injustice to himself and family
were he to do so. ,
10. You will observe, Mr.. President, that
this plan contempates the payment OF no
part of the subscription until at least one
hundred and fifty thousand dollars OF the
stock shall have been, taken or in other
words until the building Of the factory Is an
assured fact.
!, Ii. Thea the permanent organization and
the election of the necessary officers takes
place-and fifty per cent of the subscription
10 the capital stock is 10 be paid in.
) H. This amount of money, TO wit, S5OO0 IL
Is thought would be sufficient to erect the
I necessary buildings for factory OF the Kind
had In contemplation.
, l3. The idea, being not TO commence opera
, tions or eypcnd O dollar until we have the
r money necessary to complete the enterprise
in hand or well in sight.
f IA. And further, If after all our excrtions we
8 find on the LIST day Of July 1888 that less than
/ one hundred and fifty thousand dollars OF the
stock has been taken the whole scheme is tC
be abandoned and the subscriptions to be con
sidcrcd no longer of any binding force. In
conclusion, Mr.. President, l will say that
am willing to tax rs much stock in IL factory
established upon basis somewhat OF the ma
s ture indicated as any other man In the county
Of my MEANS but that am not willing te
risk a dollar In little insignificant affair thai
would be sure to prove dead failure
Mr. Bradley Cites the Greatness OF
e Abbevillc County.
,, Hon. ]. f. Bradley arose amid loud and
+ prolonged cheering, and In his usual earnest
and energetic manner expressed his hearty
= cooperation in all public enterprises, and
especially in the one now before the people
! He said 1t would benefit everybody-rnen
women and children. 1t would be blessing
to all of our, people for cotton goods to be
manufactured at home. This thing OF letting
b our cotton go North, East and West is i'm
y pOverIshing tile South. Cotton factories and
, other industries will give diversified work tc
: our citizens. They will make our country
prosperous. L would be glad TO see some o
cause OF that action? we thought that South
Carolina never could he redeemed from hcr
PROSTATE condition. Do we feel financially
embarrassed as we were then POLITICALLY EN-
barraSSed? Is IL the boast OF Abbcville thai
, she has produced so many statesmen, di
vines aud financiers and yet cannot boast Of a
single manufacturing interest within hei
borders?
\ I will say to the farmers Of Abbeville county
have you not enough pride to sustain any
movement that goes to promote the agricul.
: tural, industrial and financial interests OF
your county? We must not let this opportu
nifty pass. If our farmers will put thelI
shoulders to the wheel the factory is an as
sured fact.
Now. 1t has been said that the Newberry
factory was losing money. This is not so.
have 1t from good authority that, while the
Newberry mill has declared no dividends
she has doubled her capacity and is now max
Ing money. We have the finest climate In
, the world; our fertile soil Is unsurpassed
even our poorest uplands will produce any.
thing from an African negro to all Irish po
tato. loud appausc.)
, Mr.. Bradley, after many flights of eloquence
reminding his hearers OF the stirring times o
, IS, closed amid the most enthusiastic ap
pause.
Men to En- dOrse the Bonds and to En-.
courage the Enterprise.
Mr.. Dock Bowie, Of Santuck, said he was
not n blOated bondholdcr-but bring along
your subscription list and he would endorse
, IL.
Mr.. Newt Nickles, DR.. Addison and other
prominent farmer took a favorable view d
the great enterprise.
appointment of Conmittees-COnciu
: sion Of the Whole Matter.
On motion the chair appointed the follow